Chainlink to Introduce Its Oracles on Polkadot-Based Cross-Chain DEX
Decentralized exchange Zenlink, powered by Polkadot, has revealed a partnership with Chainlink to leverage its blockchain oracles with its DeFi products.
Chainlink's oracles will also be used for the platform's native token ZLK.
Chainlink to be used on Polkadot-based exchange
Zenlink is Polkadot's native parachain decentralized exchange. It enables traders to swap their assets among parachains seamlessly and securely.
The exchange now plans to integrate Chainlink's oracles to expand the services offered by Zenlink by making them yet more decentralized.
These oracles are expected to make Zenlink's financial products more reliable so they can reflect frequent changes in assets exchange rates and be protected from hacks that try to manipulate data.
Chainlink was picked after reviewing several other decentralized oracle solutions.
Alex DovbnyaNot the first partnership with a Polkadot-based product
As reported by U.Today previously, another platform powered by Polkadot inked a collaboration deal with Chainlink: Equilibrium.
Equilibrium is a decentralized finance outfit and will be using Chainlink as a provider of decentralized oracles.
Using Chainlink's smart contracts, Equilibrium will be able to provide an accurate value of its digital assets in order to create stablecoins, issue crypto loans and so on.
Equilibrium is a platform based on EOS-powered stablecoin EOSDT, and it intends to introduce cross-chain money into the decentralized finance system.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin